On Sun, 30 Jan 2011 11:57:57 -0200, Carlos Martinez-Cagnazzo said: > What I just don't get if, we as a society, have created institutions > we trust with our *money* (AKA banks), why there can't be institutions > we trust with our crypto keys. I know that banks sometimes fail, and > yes, probably "crypto banks" will sometimes fail as well, but on the > whole, the failure rate of trusted institutions can be quite low, > acceptably low.
There's a big difference. If a bank screws up and loses $5,000 of my money, I can (at least potentially) sue them and recover $5,000 which is pretty much identical to the $5,000 I lost. If a key escrow company loses my private key, getting back an identical private key is exactly the *wrong* solution. Crypto keys are not interchangable like dollar bills.
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